7.5% of Echo Polska Properties sold for €39 mln

Echo Prime Assets, a unit of real estate developer Echo Investment, has signed two deals for the sale of a total of 7.5 percent of Echo Polska Properties to Echo Investment lead shareholder Lisala and Redefine CFO Leon Kok, the company informed. The total value of the agreement stands at €38.6 million (PLN 166.4 million), a statement read. The former deal assumed the sale of 12.9 million shares (2.5 percent) of Echo Polska Properties for €12.9 million and for the latter, the sale of 25.7 million shares for €25.7 million. Echo Investment is a property developer which manages approximately 400,000 sqm of space occupied by shopping centers, offices and housing buildings all over Poland. The company has been listed on the WSE since 1996.